Chamath Palihapitiya on rebuilding Social Capital & Silicon Valley ponzi scheme
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- เผยแพร่เมื่อ 8 ก.ย. 2024
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E864: Social Capital's Chamath Palihapitiya on how he fell for the mythology & Ponzi scheme of Silicon Valley, is now getting back to solving problems that matter; urges founders to grow real, grow slow, & stay true to what they want to build in the world @ LAUNCH Scale.
Show Notes:
1:52 : Jason introduces Chamath from Social Capital.
5:21 : Chamath talks about chasing the wrong things due to personal issues.
7:56 : Jason thanks sponsor Walker Corporate Law. Call 415-979-9998 or visit walkercorporatelaw.com.
12:16 : Chamath describes the world of entrepreneurship and technology as being in the “bullseye of everybody else” and touches on “fundamental belief in oneself”.
14:06 : Chamath discusses Social Capital’s mission going forward.
19:16 : Jason thanks sponsor Campaign Monitor, an easy to use email marketing platform. Visit campaignmonitor.com/twist to try it for free.
21:43 : Chamath on why Silicon Valley is a Ponzi scheme.
30:19 : Jason thanks sponsor LinkedIn, world’s largest professional network. Visit linkedin.com/ThisWeekInStartups to get a $100 credit to launch your first ads.
34:45 : Chamath on staying capital light and non-obvious.
42:05 : Jason and Chamath discuss anonymous detractors versus useful criticism.
Chamath needs to seriously write a book! I've watched all of his interviews and 45 - 60 minutes is not enough time to pick his brain.
He is great, very fresh & direct approach. Lots of other good interviews with him this year.
Bestie C doesn't have the time or experience to write a book yet. His book will be fully baked when he finishes this cycle --- I would say another three or four years.
I would love to read about the things he learned about being happy
@@jasoncalacanislive Well said. Anyone similar whom you'd recommend reading up on?
As much as I would love to learn from him, I hope he never does. All the so-called gurus only started to write a book when they were trying to sell something or had some political agenda.
You’re witnessing one of The Greatest in his field, at this time.
I see Chamath, I click
you forget to say that "You're a simple man"?
Chamath just called BS on the entire VC industry. LMAO.
Yup!
@@startups So the real question is what horrid shit is Chamath involved with that he is not talking about or that we, the mindless idiots, accept as "normal".
"bro check me out, i'm so good at investing" -Chamath Satire
Honestly, the best parts are Jason's advertisements. They're hilarious and it's why I'm here!
Very sincere reading them Good value for walkerlaw group
Jake Tran brought me here. Can't believe I missed out this guy all this time.
Clicked the like button instantly. Chamath is the truth that Silicon Valley wants to crush.
14:20 “our returns are BANANAS...our returns are double buffets” - Chamath 2019
Great interview. Appreciate his frankness and honesty. It's always easier to play along and not rock the boat.
Get Naval on stage as well.
Day 2 (Oct 11) - Fireside Chat: Nassim Nicholas Taleb & Naval Ravikant
th-cam.com/video/Da0aXfshlxM/w-d-xo.html
14:06 - 19:12 is so encouraging. Great to see the man start off with a particular set of noble aims, grow so much that he starts to lose track and then catch himself and refocus. A sizable portion of society looks at the 1% with contempt and an us v them mentality. Chamath is an example of the 1% that the larger society needs to learn more about, at the very least to encourage the belief that it IS possible to gain worldly success and use that to move humanity forward at the same time.
It's incredibly refreshing to hear him speak. Love him! Thank you for doing the talk.
Thanks for watching! Chamath is the man.
I LOVE THIS MAN!! His honesty is sooooo refreshing! This type of authenticity is what we all need
God this was awesome. JCal perfectly deflecting the Sequoia comments with humor and Chamath in full effect was just too good. Cannot wait for the next All-In Pod
One of the few billionaires that don't mince their words and say things as it is.
Incredible interview. Chamath is #1. Thank you for sharing wisdom and inspiring millions of entrepreneurs around the world.
Chamath is underrated.
Nuggets after nuggets. His videos never disappoint.
The emperor has no cloths and Chamath is the only one calling him on it. The more I hear this guy, the more impressed I am with him.
What he means by 40 cents on the dollar going to the likes of FB and AMZN, is that your startup has to inevitably use those big tech company's services to grow so 40% of your investment is spent on paying those big tech firms commission fees.
Perhaps the single best This Week In Startups episode EVER.
Certainly the ONLY episode I've ever observed where the Guest (@Chamath) completely outshined the host (@Jason) :-O
Chamath will write a book and it will become NYT Bestseller. :-)
This video is raw. We need more interviews like this from all media. Chamath broke down a lot of truth.
Some of us will watch this interview in the next 2~5 years. When they do the'll realize that Chamath was right about the market. Now, Do you want to say _i wish i took my money out_, or will it be _i'm glad i listened to Chamath._
2 years later, do you think thats the case? with the pandemic it seems the ponzi is getting even bigger
@@fermixx yes. it was the case and it continues to be. It has never looked clearer than in 2020
@@MrHayada Lol Chamath now does SPACs so yea idk...
It was brilliant. VCs want to show growth on paper. Let's see how the whole thing comes down when LPs lose money in the bond market. There will be blood on the street!
40:38 the “high gloss veneer” of service providers. (aka consultancies/consultants) 😂
Steve Jobs' thoughts on consulting: th-cam.com/video/rp6_3UQLi2Y/w-d-xo.html
This came on at random and happens to be the best content I've vested in all day! This is an actual gem and makes me like these guys and this channel even more than i did! Just so good.... 🙏🏽🤑
Seeing reality when everyone else sees delusion is the most valuable trait in the valley
“Great firm, fantastic people, tremendous”
*almost* pulled that off with a straight face 😅
He is still one of the best people in the valley
Exactly
Jason always asks people who called: What is your favourite episode. Now I have an answer
wish i could work with Chamath... Jason been watching for 10 years and 3 failed startup attempts... thanks for keeping the Twist platform alive... we'd be lost without you
Thanks for being a superfan for a decade.
@@jasoncalacanislive you bring the important content, so
You rock.
If you’re busy start at 21:45.
Thank you
I just read about an e-scooter startup called "Unicorn" that burned through all of its VC funding and is now bankrupt, most of the funding was spent on Facebook ads.
@The Loner Millionaire A lot of it has to do with excess capital being available. If you have a $100m to $1b fund how do you distribute that money as quickly as possible to maximize returns, you inevitably try to scale as much as possible and move as quickly as possible. Y Combinator has the Pop Idol model of making everyone compete and they invest in the final few companies that have been vetted (at their own personal cost not the VC's) and usually 1 or 2 of their investments pay off handsomely to cover the rest.
I almost cried on his beautiful line at 15:40!
Great to see him live that day! Amazing speaker.
i was sooo waiting for this
the more I listen to this guy the more. I'm facinated... beautiful mind
Thank you for this video
Love this channel too
Stay safe
From marrakech Morocco
Chamath = Personal Integrity
wow, very well done. thanks man. your always on it
Love from Bihar, India 💛
Chamath’s alias should just be “the truth”
🔥
Heard hes got a twin named IDgaf Palihapitiya.
Chamath "The Truth" Palihapitiya
He is the one of the most honest man.. following him from long time
He reminds me of Mr. Vinod Khosla. He says the same things. So we have atleast 2 people in VC industry who speak the truth !
Jake Tran brought me here
Me too broo
Your Facebook AD brought me here. Excellent conversation and a great show.
yes chamath needs to write a book.. he speaks to many young people starting out
I feel Chamath was the inspiration for the character in that tech CEO in black mirror.
This video changed my mind about Chamath, I thought he just games on VC World like others.
Absolutely brilliant talk!! Thanks so much, Jason!
Hey it's 2023 and SVB is collapsing. Looks like he was right.
This guy is so well articulated. Amazing.
i honestly respect him for admitting he works best in a benevolent dictatorship. if its not true to him, of course he should shut it down.
Brilliant, straightforward, authentic., proven results oriented without cutting corners..wow tells it as it is with solid vision.
When I watch TWIST it makes me feel like I can be a billionaire too. 🦄
Real interview by both, thank you 👋👋
i don't like how you sneak ads in there- this is already being monetized on youtube
TH-cam needs to monetize itself better though..
There's no sneaking, he's put up the timestamps. Pay someone to download this, edit out the ads parts and send you a private link of the perfect video you like.
I honestly didnt mind, just skip through it. The video's worth it
Any idea on when Chamath's annual report / letter will be out?
s3-us-west-2.amazonaws.com/socialcapital-annual-letters/Social+Capital+Interim+Annual+Letter,+2018.pdf
Great video and very refreshing to see him speak frankly. Q: I am new to this world; so would appreciate some clarification. When he says 40% goes to facebook amazon google what does he mean? Any explanation or link to the explanation is appreciated.
mkaush09 advertising, cloud service, advertising 👈🏽in that order
He's specifically referring to startups spending money on Google and FB ads to acquire users that aren't profitable, but make the growth figures look good ("up and to the right").
The 40% figure includes these payments plus cloud payment to Amazon's AWS and Google's cloud.
incredible to hear him, awesome
Michał Borski Chamath was an amazing guest! What was your favorite lesson from the talk?
Wow, this is an incredibly real convo. Chamath is the truth!
No more stocks or gold but İnvesting on AvAX and SOLANA
Haha you killed it - 40:40
I wonder if that includes design houses?
lmaoooo what a boss
This was a treat - a fantastic duo.
That was sooooooooo good!
Why do I love Chantal so much?!! Because he is so damn sane.
Social Capital is my capital, for every letter of the Alphabet
- Polyhapateya
Very good
Vishnu Punia 🙌🏼🙌🏾🙌🏽🙌
I did not get the Google Facebook and Amazon reference. Can someone explain that?
companies that need to use services provided by google, facebook or amazon, like the amazon aws, or android, etc....
Well, anyway, there's no hope for Fiat money, and the country needs a good Manager.That's how Borodich, who is building the Universa project, is a useful thing.
I have liked Chamath for sometime but for obsession with Bitcoin.
Is there an incentive then for later stage companies who don't get acquired to IPO? If private companies could keep getting capital from VCs and just grow to keep increasing their valuation (at the expense of not being profitable), then why IPO? And with enough time, wouldn't private LPs be upset that they're not actually getting returns on their money, since a large portion of their money is tied up in private companies?
CP was preachin in this talk!
Too bad, it seems E869 is offline ? :( it was great
nice tesla pump at the end.
Lol look at tesla now.. good thing he didn't sell
just some serious real talk!
Jason fried and DHH have been saying this for 10 years. Subprime startups.
If he had a church I would go everyday Sunday
40c out of every venture $ goes into the hands of google, facebook and amazon.
Curious how the 40c actually flows to google, Facebook and amazon? Thought this was brilliant but don’t know if I understood the dynamics. Can you share?
Please explain
43:45 Critics. Nobody remembers a critic, block out their criticism. *Building things is hard,* nobody believes, it’s so dark, it’s so alone. The last thing you want is someone telling you that you can’t do it. F those people. They’re anonymous irrelevant losers on the sideline, *you’re on the field doing things. Be proud, that’s amazing. That’s hard.*
IF you change the 2% annual fee and 20% carry to a smaller fee and larger carry, doesn't that solve some of the problems?
It would, but the incentive for that to happen is not there
Now let’s go after the FED
I love it
🙌
Easy for Cham to call others nasty pieces of s*&%. He admits he ran Capital like a benevolent dictatorship. Does he think his slighted partners should not be allowed to talk about his bad behavior? He's just a v lucky person and has not realized how much luck he was born into. He glibly talks, and talks, and talks... not so interesting.
crazy town
Deep!
Not to mention Chamath knows dry powder is the best bet as we go into another GFC.
Chamath is smart and has experience, so what he beat Berkshire Hathaway for their first few years, BRK has been profitable over 25 years, then 50 years... so its a little soon to talk shit.
I don't think the goal was to talk shit. It was just to illustrate that numerically no one could have anything to complain about the job he had done so far.
@@VanCough He tends to overcompensate a-lot, he'll get wiser with age.
when you watch this in '21 and you realise RH just pulled up 4billion.
This is a total counterpoint to everything Andrew Chen @ A16 has written.
24:18 Trying to fix one's mistake after letting the truth slip ha ha ha ha
Who shoved the ads into this shit?
Chamath is cool and a good talker.. but his ego is huge and it is a turn off. Once you've watched 5-6 interviews of it.. you can see through the act. "Me, me, me I, I, I.." It's all about how better, smarter and different he is to everyone else and full of unearned ethical authority. He has played the same game as everyone else for years and there is nothing remotely contrarian about his own practices other than the narratives he always spins which literally any other top VC firm can also argue.
Jason did not give you a love heart. Welcom to the VC world. If you say something critical and you're rich your voice counts, if you are just another youtube coment then you are not worthy of empathy. We all need love :(
I like how he talks about being an unhappy rich person that flys all over the world, and how he needs to get in touch with his emotions and inner authenticity. He talks about his trauma, bagage and his money. This entire talk nullified a lot of what I thought of him after his facebook rant.
Lon A exactly, he’s just playing a different role , still very rehearsed, none of his ‘trauma’ comes off as real ‘trauma’, first world fluff.
Great mind!!!
This whole opening for what seems like an internet lifetime was extremely painful to sit and listen to. We have all dealt with a bunchhhhhhhhhhh of shit in life.
He sure does love to talk.
And then just imagine when you add that you’re black and femme to the mix…….
anyone who the name of the satallite lady who did it with 3 millions?
Who is that Lady?
Chamath is professional manipulator
And all of us was fooled for a long time
superficially make a company grow to satisfy investor 24:40
I love you more than you'll ever know.